A local entrepreneur has beaten a budding startup to the race to unveil Malta’s first Bitcoin ATM.
The machine, which has been installed outside a Sliema shop on Blanche Huber street, allows users to buy Bitcoin and check their ewallet balance using QR codes displayed on their smartphone.
Bitcoin is a decentralised cryptocurrency and payment system that runs on blockchain technology – meaning all transactions are recorded on a public distributed ledger.
Traditionally, buying the currency involves signing up with an online exchange service and sending money to your ewallet through them via bank transfer or credit card purchase.
Bitcoin ATMs do away with most of these technical somersaults, though users must still have their own currency ewallet to start with.